Brookdale refinances $188M in debt, expands credit line to $200M

Brookdale Senior Living Inc. (NYSE: BKD) completed two financing transactions in June 2026, refinancing a portion of its 2027 mortgage debt and expanding its revolving credit facility, according to a company statement.

The senior living operator obtained $188 million in loans through CBRE National Senior Housing via the Freddie Mac Optigo loan origination program. The proceeds were used to repay $200 million of mortgage debt secured by 22 communities that was set to mature in 2027. The new loans are secured by non-recourse first lien mortgages on 13 communities, carry a fixed interest rate of 5.97%, are interest-only for the first five years, and mature in 2036.

Separately, Brookdale amended its revolving credit agreement with Capital One, National Association as administrative agent and lead arranger, Ally Bank as documentation agent, and CIBC Bank USA as a participating lender. The amended facility expands the available commitment to up to $200 million, an increase of up to $100 million from the prior facility. The amended credit facility matures in April 2029, with options to extend for two additional one-year terms subject to certain conditions.

Amounts drawn under the revolving facility bear interest at SOFR plus an applicable margin of 2.50% at utilization below 50%, or 2.25% at utilization of 50% or greater. Available capacity will vary based on appraised values and performance of the communities securing the facility.

"We are pleased to have successfully and proactively refinanced an additional portion of our 2027 mortgage debt on attractive financial terms, extending our maturities while using fewer communities in the collateral pool," said Dawn Kussow, Brookdale's Chief Financial Officer.

Brookdale operates 541 senior living communities across 41 states, with capacity to serve approximately 46,000 residents as of June 30, 2026.

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